Circle, the issuer of USDC, has successfully priced its initial public offering (IPO) at $31 per share, raising approximately $1.1 billion in a deal that surpassed previous expectations. This offering values the company at $6.9 billion based on outstanding shares, or about $8.1 billion, fully diluted. The number of shares sold was increased to 34 million, up from an earlier estimate of 24 million, due to high demand. Shares are set to begin trading on the New York Stock Exchange under the ticker CRCL. USDC currently holds a 29% share of the stablecoin market, with $61 billion in circulation as of late May. The company reported a net income of $156 million on revenues of $1.68 billion for 2024, which reflects a decline from the previous year. This IPO occurs amid ongoing legislation in Congress aiming to regulate stablecoins, with potential policies expected to be finalized around August.

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